Home China Headline Brokers may use pooled funds to trade overseas

Brokers may use pooled funds to trade overseas

Brokers may be able to pool money of citizens to trade overseas stocks under new rules Chinese authorities are considering as they aim to channel domestic savings to other investments, sources said yesterday. Securities houses may also be able to manage assets for retail investors under the rules, set to debut as early as March, which will enable the brokers to diversify their revenue stream, people familiar with the issue said. The China Securities Regulatory Commission is seeking opinions among brokerages on the rules and may finalize them in coming weeks, the sources said. "The rules will enable brokerages to join a batch of lenders, fund managers and insurers in helping clients invest overseas," said a Shanghai-based broking executive. "Second-tier players are also scheduled to be included in the asset-management business." Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form Name Email Website Title Comment Write the displayed characters Add Comment Copyright 2007. All Rights Reserved.

 

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